The Nigerian Exchange closed the trading week on a bullish note, as investor sentiment turned positive, resulting in a surge of N1.71tn in market capitalisation.
According to the weekly trading report released by the NGX, the All-Share Index appreciated by 2.49 per cent to close at 111,742.01 points, while the market capitalisation rose to N70.463 tn from N68.753 tn in the previous week.
Investors traded a total turnover of 3.794 billion shares worth N119.394bn in 89,636 deals, showing a slight decrease in volume compared to 3.932 billion shares valued at N74.813bn exchanged in 105,220 deals last week. However, there was a significant rise in value, indicating stronger participation in higher-priced stocks.
The Financial Services sector led the activity chart, measured by volume, with 2.744 billion shares valued at N79.805bn traded in 36,458 deals. This accounted for 72.34 per cent and 66.84 per cent of the total equity turnover volume and value, respectively. The consumer goods industry followed with 201.889 million shares worth N7.623bn in 11,922 deals, while the services industry recorded a turnover of 173.748 million shares worth N1.719bn in 6,385 deals.
United Bank for Africa Plc, Fidelity Bank Plc, and Access Holdings Plc were the top three equities traded by volume, accounting for a combined 1.942 billion shares worth N61.542bn in 12,443 deals. These trades represented 51.19 per cent and 51.54 per cent of the total equity turnover volume and value, respectively, reflecting continued investor confidence in the banking sector.
The Exchange also witnessed price movements that reflected bullish sentiment, with 56 equities appreciating in price, higher than the 52 recorded in the previous week. However, 44 equities recorded price depreciation, up from 41 the prior week, while 48 equities remained unchanged, lower than 55 in the preceding week.
Top gainers for the week included University Press Plc, which rose by 35.32 per cent to close at N5.90; Red Star Express Plc, which gained 23.99 per cent to close at N8.32; and Omatek Ventures Plc, which appreciated by 20 per cent to close at N0.78.
On the losing side, Abbey Mortgage Bank Plc led the decliners, falling by 26.87 per cent to close at N5.58. It was followed by Legend Internet Plc, which dropped 18.95 per cent to close at N6.16, and Nigerian Enamelware Plc, which declined by 18.77 per cent to settle at N20.55.
In addition to equities trading, a total of 69,078 units valued at N9.091m were traded in the Exchange Traded Products segment, compared with 109,953 units valued at N52.587m traded in 164 deals the previous week.
Meanwhile, they announced that Standard Alliance Insurance Plc has officially changed its name to Fortis Global Insurance Plc, following shareholder approval at its extraordinary general meeting held on April 4, 2025, and receipt of a new certificate of incorporation from the Corporate Affairs Commission.
Despite mixed performances across indices, with the CG, AFR Bank Value, MERI Value, Oil and Gas, and Growth Indices all closing in the red, the broad market outlook remains positive.
Analysts at Afrinvest noted that the market is expected to maintain its positive momentum as investors continue to reassess long-term opportunities in fundamentally strong and viable stocks: “Looking ahead, we anticipate the bourse to sustain the positive performance as investors reassess long-term opportunities in fundamentally viable stocks.”